![]() The majority of the shares are owned by the entrepreneurs from each agency who sold their businesses, then rolled a significant portion from the sale into Believeco:Partners.” “The outside investment was $60 million led by CBGF who has taken a minority equity position. “It is majority owned by the entrepreneurs from each of the shops,” said Dickinson. The press release says the deal is “powered by an investment by Canadian Business Growth Fund.” What does that mean exactly and what is the ownership structure. ![]() “The most important issue facing our country is reconciliation with Indigenous people, so having Castlemain as a component of Believeco, was just so compelling to me,” said Dickinson. But it was also about geographic and discipline representation: Revolve is based on the East Coast for example, while Brightworks specializes in healthcare, Venture has focused on food and health CPG, while Castlemain brings expertise in Indigenous issues. “It’s certainly about the people, that we can work with each other,” she said. Why these six partners? Was it about the people? The focus of the services? “I was really so happy that I was able to do something for the team and the clients, and make it go to the next level… I mean, certainly it’s going to be difficult to think that Venture doesn’t exist after 35 years of running it, but then I think about what’s in front of the team, and I get super excited.” ![]() “No, I don’t think I’m sentimental in that way,” she said. Here’s some of the other highlights from our chat with Dickinson, who talked about the partners and motivations behind Believeco, and where things go from here.ĭoes it make you sad that Venture is gone? Are you sentimental about those kinds of things? “Believeco:Partners not only has an impressive and experienced business at launch, they have an innovative plan to scale independents and create value-for clients and for Canadian business as a whole.” “We always look for ambition in the entrepreneurs we invest in,” said CBGF’s CEO George Rossolatos in the release announcing the deal. ![]() She soon found the six partners willing to join together, but they are just the start of things for Believeco they want to expand, and have about $60 million in funding to make it happen, thanks to an investment from the Canadian Business Growth Fund (which has taken a minority stake in the company). “And I thought, ‘I can’t be the only one that’s wondering what does the next 10 years or 35 years look like? How do you manage that?’”ĭickinson reached out to other independent owners and quickly found a lot of interest. “I started to think about this idea of consolidating independent shops,” she said. Selling to a holding company didn’t appeal to her because she believed in the importance of independent agencies, but she also knew Venture needed “strength and depth” to thrive. “I was thinking about the future and what I wanted to do with the business, and where I wanted to take it next,” she said. The roots of the deal go back a couple of years, when Dickinson started considering merging Venture with other agencies. The Message spoke with Dickinson at length on Thursday afternoon to learn a little more about the deal: why she did it, why these agencies, and what will happen next. While still part of Believeco:Partners, PR agency Argyle, and Castlemain, which specializes in Indigenous communities and communications, will retain their brands. Daniel Tisch (second from right) is co-managing partner and CEO of Argyle, while managing director of shared services Stefan Moores (right) rounds out its four-person executive team.įour of the founding agency brands, Venture Play, Brightworks, Revolve and Zync, will disappear and operate as one full-service ad agency, Believeco, with particular strength in health, wellness, food and beverage sectors. Long-time Venture CEO Arlene Dickinson (and Dragon’s Den star to much of the non-advertising world), is executive chair of the new business, while Brightworks founder Neil Follett (left in top photo) has been appointed CEO. A new 300-person agency player appeared in Canadian adland on Thursday, with big hopes to grow quickly-and the deep pockets to make that goal a reality.īelieveco:Partners was created through the merger of six independent Canadian agencies: Venture Play, Argyle, Brightworks, Zync, Revolve and Castlemain.
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